Author: Token Flash

The $4 trillion financial institution is piloting “deposit tokens” on Coinbase’s Ethereum Layer 2 blockchain, Base.JPMorgan Chase, the largest bank in the United States by assets under management (AUM), with $3.8 trillion as of 2024, according to S&P Global, is testing its own dollar-pegged asset, dubbed a “deposit token,” on Coinbase’s Ethereum Layer 2, Base.Bloomberg reported on Tuesday afternoon that JPMorgan is piloting “a token called JPMD that represents dollar deposits at the world’s biggest bank, as financial institutions deepen their push into the digital asset sector.” The move comes just two days after the institution filed a trademark application…

The total amount of ETH held across Layer 2 networks is dropping fast as falling L2 token prices struggle to hold investors’ interest.Ethereum reserves on Layer 2 networks appear to be dropping quickly, with data showing that rollups like Optimism have seen their ETH volumes shrink by double-digit percentages over the past few months.According to data shared Monday in an X post by Michael Nadeau, founder of The DeFi Report, ETH balances across L2s have declined around 25% in recent months.“In particular, ETH on Optimism is down 54% since March. It’s down 17% and 14% on Arbitrum and Base,” Nadeau…

Bitcoin drops below $104,000 as $513 million in liquidations rock the market.The cryptocurrency market turned sharply lower on Tuesday after starting the week in the green, driven by escalating tensions between Israel and Iran.Bitcoin (BTC) is down 3.7% in the past 24 hours to $103,800, while Ethereum (ETH) decreased by 6.3% to $2,469. XRP dropped by 7% in the past 24 hours to $2.16, and Solana (SOL) plunged 7.2% to $146.BTC PriceThe total cryptocurrency market capitalization decreased by 6% on the day to $3.35 trillion. Leveraged liquidations surged to $513 million during the same period, according to CoinGlass. ETH accounted…

The crypto exchange, which is the largest in the U.S., aims to bring tokenized equities to U.S. investors.Coinbase, the largest United States-based centralized crypto exchange (CEX), is seeking approval from the U.S. Securities and Exchange Commission (SEC) to offer tokenized equities to its users, according to a report by Reuters.If approved, the initiative would allow Coinbase to offer stocks represented by digital tokens on-chain, facilitating faster, cheaper, and around-the-clock trading. The company’s chief legal officer, Paul Grewal, described the effort as “a huge priority” in an interview with Reuters.Notably, tokenized stock trading is not currently permitted in the U.S. and…

Hypurr NFTs are surging in tandem with the price of HYPE, which also reached a new all-time high on June 16.Hyperliquid’s ecosystem continues to thrive as the HYPE token rallies, with the official Hyperliquid NFTs, dubbed Hypurr NFTs, following suit with a fresh over-the-counter (OTC) all-time high price.Hypurr NFTs were offered to the top 5,500 users based on points earned on Hyperliquid prior to its token generation event, and the unreleased collection can currently be purchased and sold via OTC desks. On June 15, the OTC desks recorded their largest Hypurr NFT deal yet, worth $65,000, and a second bid…

Digital asset investment products experienced $1.9 billion in inflows last week, marking the ninth consecutive week of growth and pushing the year-to-date total to a record $13.2 billion. Bitcoin led with $1.3 billion in inflows, while Ethereum attracted $583 million, its strongest inflows since February. BlackRock’s spot Bitcoin ETF purchased a total of 10,290 BTC during the week, significantly exceeding the average daily mining rate of around 3,150 BTC. On June 16 alone, BlackRock bought approximately 2,530 BTC and 6,320 ETH, with a daily purchase value exceeding $266 million for Bitcoin and $16.1 million for Ethereum. Fidelity also made notable…

Over 20 memecoin-related accounts were suspended on X with “no official information,” in what some suspect may be linked to unauthorized API use.Social media platform X (formerly known as Twitter) suspended pumpfun’s official profile — the largest memecoin launchpad, which has generated nearly $700 million since its inception — together with dozens of other crypto and specifically memecoin-related accounts without any notice on Monday.Pumpfun’s X account | Source: XPumpfun’s official account was suspended along with that of its co-founder, Alon Cohen, and at least 19 other crypto-related profiles on X. The crackdown also seems to have targeted accounts linked to…

Singapore-based agricultural commodity trading company Davis Commodities Limited, listed on Nasdaq under the ticker DTCK, has announced a $30 million strategic initiative aimed at transforming global commodity trading through a combination of Bitcoin reserves and real-world asset (RWA) tokenizationSingapore-based agricultural commodity trading company Davis Commodities Limited, listed on Nasdaq under the ticker DTCK, has announced a $30 million strategic initiative aimed at transforming global commodity trading through a combination of Bitcoin reserves and real-world asset (RWA) tokenization. The firm plans to allocate up to $12 million, or approximately 40% of the funds, to Bitcoin as an inflation hedge, with an…

The U.S. Senate has set a final passage vote for 4:30 p.m. Eastern on Tuesday, June 17The U.S. Senate has set a final passage vote for 4:30 p.m. Eastern on Tuesday, June 17, on the Generational Innovation for United States Stablecoins (GENIUS) Act, a bipartisan measure intended to establish federal oversight of dollar-pegged cryptocurrencies.Draft text circulating among lawmakers would require stablecoin issuers to obtain federal or state licenses and maintain strict reserve, audit and disclosure standards, according to supporters of the bill. Backers say the framework is designed to protect consumers while giving regulated issuers clearer access to U.S. payment…

DDC Enterprise said it has signed three securities purchase agreements that will provide a total of about $528 million in fresh capitalDDC Enterprise said it has signed three securities purchase agreements that will provide a total of about $528 million in fresh capital. The New York Stock Exchange-listed food brand company intends to deploy the entire sum to expand its holdings of Bitcoin, according to statements released on Tuesday.The transaction represents one of the largest single-purpose capital raises for Bitcoin acquisition by an NYSE-listed company. DDC did not immediately disclose the timetable for completing the purchases or the size of…